answer the following question

21) The estimated value of an item at the end of its useful life is A) depreciation expense. B) residual value. C) accumulated depreciation. D) None of these answers are correct. 22) Accumulated Depreciation is found on which of the following financial statements? A) Balance sheet B) Income statement CJ Statement of Owner's Equity D) All of these answers are correct. 23) Hope for the Homeless purchased kitchen equipment for $47,000 with a residual value of $17,000 and a life expectancy of 5 years. Using straight-line depreciation, the amount of the depreciation adjustment for the first year would be A) $5,000. 8) $6,000. C) 56.100. D) $4,000. 24) Depreciation Expense would be found on which of the following financial statements? AJ Balance sheet B) Income statement CJ Statement of Owner's Equity D) Depreciation report 25) As accumulated depreciation is recorded, the book value A) Increases. B) decreases. C) remains the same. D) is closed out. 26] To record accrued salaries, you would AJ debit Cash and credit Accrued Salaries. BJ debit Accrued Salaries and credit Salaries Expense. C) debit Salaries Expense and credit Accrued Salaries. DJ None of these answers are correct. 27) Bob's Bakery purchased an industrial oven for $22,000 with a residual value of $6,000 and life expectancy of 8 years. Using straight-line depreciation, the amount of the depreciation adjustment for the first year would be A) $1,000. B) $8,000. C) $2,000. DJ $4,000